Hull City recently submitted their latest set of financial accounts and it brought a number of revelations to light.
Details within the 2020/2021 finances were released to the public for the first time on Friday. The accounts showed a loss of £187,000 per week as well as the rejection of a significant offer for one of their star academy graduates.
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The Allam family were keen to highlight the success of the academy over recent years. In a statement within the accounts, Assem Allam wrote: “The directors are pleased with the development of the academy.
“The club recently received an offer of £8m for one player brought up through the academy.”
Hull Live previously reported that Premier League sides were circling around in January for Keane Lewis-Potter following a contract dispute. This may coincide with an £8m bid being rejected by the Tigers.
Allam also admitted that the club will continue to focus on developing players following the success of the likes of Lewis-Potter, Jacob Greaves, and Jarrod Bowen.
Despite the losses, Allam also said the club has a number of sell-on clauses for players that have been previously sold: “The company has the benefit of future sell-on clauses for players previously sold and who are showing great promise in the Premier League which could generate returns for the club.”
With the likes of Lewis-Potter and Jacob Greaves coming through recently, as well as past graduates like Josh Tymon, Max Clarke, and Tom Cairney, the club has always produced talented players.
Whilst not much was given away as to who was subject to the bid, that level of interest and value of the player shines a positive light on the players that are coming through at Hull.
The sustainability of the club is important, especially when you see the likes of Derby County and Reading struggling financially.
If Hull continue to produce players, improve them and sell them on, the club can use it as a building block for better things in the future.